Hexagon AB, a global leader in sensor, software, and autonomous solutions, recently announced the signing of an agreement to acquire PAS Global, LLC (PAS). PAS is a leading provider of Operational Technology (OT) integrity solutions used to prevent, detect, & remediate cyber threats, reduce process safety risks and enable trusted data for decision-making in asset-intensive industries like manufacturing, oil & gas, utilities and more.
OT computing systems are critical to managing the performance of physical devices, machines and essential processes – from controlling temperatures to triggering emergency shut-offs. These historically stand-alone, closed systems are becoming increasingly connected in the face of IoT and digitalisation and therefore, more vulnerable to cyber manipulation and attacks. Building upon its commitment to helping industrial organisations improve production safety and reliability since its founding in 1993, PAS has, in recent years, expanded its expertise to helping customers identify and reduce OT cybersecurity risks, ensuring OT integrity from the sensor to the cloud.
“Combining PAS’ OT expertise with our PPM division’s digital twin and data integrity capabilities creates a powerful combination for industrial lifecycle management. Our customers can now manage the lifecycle from plant design and maintenance, to real-time situation awareness in the control room, cybersecurity risk management, and industrial digital transformation,” says Hexagon President and CEO Ola Rollén. “PAS’ highly skilled and experienced staff serve more than 500 customers across more than 1,450 sites and 70 countries, significantly expanding our owner operator footprint across the oil & gas, chemicals, power generation, mining and metals, and pulp and paper industries. Their highly complementary solutions provide expansion opportunities into verticals such as agricultural processing, water treatment, and renewables, as well as synergies with our Manufacturing Intelligence and Mining divisions.”
Headquartered in Houston, Texas, USA, PAS will operate as part of Hexagon’s PPM division. Completion of the transaction (closing) is subject to regulatory approvals. 2020 revenues are forecast to be around 34 MEUR.
